MEXICO CITY, April 16 (Reuters) - Mexico’s telecommunications regulator IFT set an 830-million-peso ($63.37 million) minimum price for new free-to-air television channels, the agency said in a statement Wednesday.

The regulator announced in March the bidding process for two new national free-to-air channels following a major sector overhaul passed last year aimed at boosting competition in the market.

The new networks would weaken the duopoly of Mexico’s two biggest public broadcasters, Televisa and rival TV Azteca. Combined they control about 95 percent of the broadcast television market.